Apollo Education Group, the publicly traded company that owns the University of Phoenix, announced continued enrollment and revenue declines in its third-quarter corporate filing, which Apollo released Monday.
Phoenix saw its revenue decrease $379.3 million, or 18.8 percent, during the nine-month period that ended May 31. The university's enrollment of degree-seeking students declined to 206,900 students by the end of May, a nearly 15-percent dip from the same time last year.
In the filing, Apollo also said it was laying off approximately 600 employees, "most of whom were enrollment counselors," as part of measures to reduce costs and to streamline services.
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